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Investors & landlords
LLCs are only exempt from receiving 1099-Misc forms if their tax classification is "C" or "S". If they are LLPs or single-entity LLCs, they are NOT exempt and should receive one. Box 3 on the W-9 should clarify the vendor's classification. The rules are clarified in your link to the IRS website.
‎December 22, 2020
12:36 PM
5,991 Views